- Wirex launches first-ever multi-currency accounts in Europe
- EBA publishes its Roadmap on Fintech setting out priorities for 2018/2019
- David Thorburn to join Barclays UK’s Board as Non-Executive Director
- Financial services now paving the way for digital transformation
- MFS becomes the first UK bridging lender to expand into Asia
- Women investors across UK and Europe overwhelmingly back female founders
- CMA announces two senior appointments expired
- FAB responds to media speculation suggesting intent to manipulate the Qatari riyal expired
- Most affordable mortgages in a decade, according to Halifax review expired
- MarketInvoice reaches £2bn milestone for loans to UK companies expired
- Finance industry stops £1.4bn in attempted fraud expired
- Goldman Sachs’ president and Co-Chief Operating Officer is to retire expired
13th March 2018
Entersekt launches digital payments enablement product
Entersekt has launched Connekt, a digital commerce enablement product. The company is offering Connekt to financial services providers to help them adapt to changing market conditions.
To reclaim their previously uncontested position in payments, financial services providers must look to their banking apps and combine in them the best of digital banking with the latest in mobile payments. Doing so will not only strengthen their posture against disintermediation and improve customer retention with a wider service offering, it also promises to draw significantly more traffic to their apps daily, increasing transaction rates and revenue.
The trust that banks’ brands inspire, their large customer bases, and the relative ease with which they can onboard and provision users of new payments services count in their favour as they set out on this journey. Challenges however remain. Integrating disparate payments technologies in as seamless a way as possible takes time and money and, as costs climb, the risk of non-adoption becomes harder to bear.
Connekt helps financial institutions resolve this quandary. It puts at their disposal a secure service platform and ever-expanding menu of on-the-go digital payments functionality and third-party products, including tokenisation and HCE wallets for tap to pay, QR-based scan to pay, and 3-D Secure 1.0 and 2.0. These new payments services can be switched on within their existing banking apps quickly and easily, no matter the underlying technology, payment endpoint, or merchant network involved.
Schalk Nolte, Entersekt’s CEO, said: “We are applying what we have learned in digital banking security over the last decade to a broader set of problems affecting providers of digital services. Entersekt has always seen itself as a Fintech partner to banks, and our institutional customers remain our biggest source of inspiration. By listening to them closely and responding with creativity, we continue to make good on our commitment to enable the best in mobile-first innovation.”